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Challenging The 20-Day EMA

USDJPY TECHS
  • RES 4: 141.61 High Nov 23
  • RES 3: 140.64 50-day EMA
  • RES 2: 140.00 Round number resistance
  • RES 1: 138.04 / 17 20-day EMA / High Dec 15
  • PRICE: 137.69 @ 20:25 GMT Dec 16
  • SUP 1: 134.54/133.63 Dec 14 low / 2 and the bear trigger
  • SUP 2: 132.56 Low Aug 15
  • SUP 3: 131.08 1.00 proj of the Oct 31 - Nov 15 - 21 price swing
  • SUP 4: 130.41 Low Aug 2

USDJPY traded higher Thursday and in the process, pierced resistance at 137.97, Tuesday’s high. The pair has tested resistance at 1.3804 too, the 20-day EMA. A clear break of this average, if seen, would signal scope for stronger recovery and highlight an extension of the corrective cycle. This would open 140.00 and 140.64, the 50-day EMA. On the downside, the bear trigger lies at 133.63.

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